This is the best way to ensure that you know exactly what you're purchasing.And most of the time, you can use the findings of that report to reduce the purchase price/get a credit at closing for way more than the ~$400 inspection report.  

And they do a fantastic job on the inspection, report, and in-person summary as well. 

It's there in the title report if you look closely enough. 

Hello @Michael Dallas,To verify the seller’s information, ensure you request these essential documents:Rent Roll (to confirm rental income and occupancy)Lease Agreements (to review tenant terms)Financial Statements (past 1-2 years, including income and expenses)Property Tax StatementsUtility Bills (if applicable)Maintenance Records and recent CAPEX reportsInsurance Policy DetailsInspection Reports (any recent or previous reports)These will help you confirm the property’s income, expenses, and condition.

Its probably oK but worth calling around and sharing your prelim title report with a lender AND their underwriter to get the thumbs up..

We can implement the plan and supply weekly construction reports. 

In addition if you use a title company or lawyer to handle the closing then they are legally required to report the sale to the IRS etc.

In case it is important, we are based in CA.Administrative Requirements: Are there differences in ongoing fees, reporting requirements, or other administrative burdens between the two states?

The method of payment doesn't really matter - what's important is that it is tracked in Schedule K-1 and reported to IRS. ...

This means no rental income or loss is reported for the current year, and the $3,000 can offset future rental income or gains.This post does not create a CPA-Client relationship.